Criteo has announced its expansion to offer Criteo Retail Media solutions across six markets in the Asia Pacific (APAC). Its retail media solution helps brand advertisers to use retailers’ first-party data to advertise on retailer sites and apps, as well as across the open internet.
Since its regional launch in Japan by the end of 2019, the Criteo Retail Media solution is now available in five more markets, including Korea, Australia, South-East Asia, Taiwan and India. The solution enables retailers and marketplaces to generate new revenue from their brand partners. Brands can also reach shoppers at the digital point of sale and have complete visibility into the impact of media spend on product sales.
Globally, Criteo’s Retail Media solution powering over 100 retailers and 120 agency customers, is expected to drive nearly $700 million in media monetisation for retailers and $3.3 billion in product sales for brands in 2021.
“We were quick to expand our retail media offerings here in Asia, a key growth market for Criteo. In Q1 this year, our retail media business grew 122% year-over-year, and we are excited to see increasing demand for our technology, especially here in Asia. A key component of our commerce media strategy, Retail Media is also an addressable market expected to grow quickly. According to McKinsey, retail media is a $17B market today, excluding Amazon and China, and will grow at a 22% CAGR to $32 billion in 2024,” explained Geoffroy Martin, EVP and General Manager, Growth Portfolio at Criteo.
Most recently, Criteo appointed Taro Fujinaka as Managing Director, Retail Media, APAC. In this role, Fujinaka will work to drive the regional retail media ecosystem and deliver value to Criteo’s customers and partners as they continue to utilize Retail Media.
Fujinaka brings with him over 16 years of experience in digital advertising, and ad tech, including roles at Yahoo Japan and IPG Mediabrands Audience Platform where he was involved prior to joining Criteo. Most recently Fujinaka was Managing Director at Integral Ad Science where he spearheaded the direction of the company in Japan and Korea for over five years. Throughout his career, Fujinaka has played a fundamental role in energising the digital advertising industry in Japan and building high-performing teams to achieve market influence for brands.
In his new role with Criteo, Fujinaka has shared his excitement about leading the retail media business in its next phase of growth and expanding Criteo’s regional portfolio of customers for the technology. Since joining the team in March, Fujinaka has worked with the team to drive awareness and adoption across the region and supercharge retailers’ efforts to leverage high-value media assets and first-party data on behalf of leading brands.
“As brands prepare for the post-cookie world, retail media will play a pivotal role in empowering brands who seek new addressable media opportunities in the evolving identity landscape. Combining a highly differentiated ad inventory with unique first-party data, we are confident that its availability and the strengthened capacity of our regional team will help with driving the industry forward in the years to come,” Fujinaka concluded.